The GFOA Award recognizes Downey’s efforts in producing a comprehensive budget document that excels in four major categories such as a policy document, a financial plan, an operations guide and a communications device.

Downey’s FY 2015-16 budget met the highest principles of governmental budgeting and is a reflection of the city’s commitment to ensuring fiscal responsibility and transparency, officials said.

“Receiving the GFOA Award for a second year in a row is a significant achievement for our city and we should all feel very proud,” said Mayor Alex Saab. “This is a reflection of our commitment to safeguarding taxpayer dollars and ensuring our city’s fiscal stability.”

Mayor Pro Tem Fernando Vasquez commented, “This prestigious award is a true testament of the hard work of our council and city staff, and I congratulate everyone for making our city’s budget a top priority.”

The GFOA is a major professional association servicing more than 18,000 appointed and elected local, state, and provincial-level government officials, and finance practitioners. Its Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting.